Venture Global LNG brings in more cash for its projects

Venture Global LNG garnered $81.4 million in its sixth round of equity investment to fund the development activities for its proposed LNG export facilities in Louisiana.

The offering brings the company’s aggregate funding total to $361 million, Venture Global LNG said in its statement on Thursday.

In response to the capital raise, Co-CEOs, Mike Sabel and Bob Pender said that by 2021 the company expects to launch commercial operations for Calcasieu Pass.

The company is looking to develop projects totaling 30 million tons of LNG production through its two LNG plants.

The 10 mtpa Venture Global Calcasieu Pass facility is located at the intersection of the Calcasieu ship channel and the Gulf of Mexico, while the 20 mtpa Venture Global Plaquemines LNG facility is placed in Plaquemines Parish, Louisiana.